Cibc World Markets Corp Grows Stock Holdings in Textron Inc. (NYSE:TXT)

Cibc World Markets Corp raised its position in shares of Textron Inc. (NYSE:TXT) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,350 shares of the aerospace company’s stock after buying an additional 3,763 shares during the period. Cibc World Markets Corp’s holdings in Textron were worth $2,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. True Wealth Design LLC purchased a new position in shares of Textron during the third quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Textron during the fourth quarter worth $31,000. Eastern Bank purchased a new position in shares of Textron during the fourth quarter worth $42,000. Truvestments Capital LLC purchased a new position in shares of Textron during the third quarter worth $43,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Textron during the fourth quarter worth $63,000. 86.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America cut Textron from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $110.00 to $85.00 in a research note on Friday, January 24th. Vertical Research upgraded Textron from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research note on Monday, January 6th. Susquehanna reduced their price objective on Textron from $100.00 to $90.00 and set a “positive” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley reduced their price objective on Textron from $86.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Barclays reduced their price objective on Textron from $104.00 to $95.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Textron currently has a consensus rating of “Moderate Buy” and an average target price of $93.45.

Insider Transactions at Textron

In other news, VP Mark S. Bamford sold 5,451 shares of Textron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $72.68, for a total transaction of $396,178.68. Following the sale, the vice president now owns 18,223 shares in the company, valued at approximately $1,324,447.64. The trade was a 23.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.

Textron Stock Down 1.3 %

Textron stock opened at $73.49 on Friday. The stock’s fifty day moving average is $74.93 and its two-hundred day moving average is $80.84. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.76 and a quick ratio of 0.84. Textron Inc. has a 1-year low of $70.14 and a 1-year high of $97.34. The stock has a market cap of $13.35 billion, a PE ratio of 17.05, a P/E/G ratio of 1.18 and a beta of 1.27.

Textron (NYSE:TXT) last posted its earnings results on Wednesday, January 22nd. The aerospace company reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. Textron had a return on equity of 14.92% and a net margin of 6.01%. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. On average, sell-side analysts expect that Textron Inc. will post 6.12 EPS for the current fiscal year.

Textron Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Friday, March 14th. Textron’s dividend payout ratio (DPR) is currently 1.86%.

About Textron

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.